1. Find out what you really want from your investments.
Set goals. Where do you want to be 5 years from now? Do you want a much larger nicer house for your family? How about waltzing into a car dealership and paying cash? Picture what you want.
Your investing needs to provide a living -and a lifestyle. You need to be able to look forward and enjoy your life and your family.
If you want to coach your children's sports teams, your real estate needs to give you the time, not steal the time from those precious events.
With proper planning you can learn how to out-source but you've got to know where you want to go before you can get there.
2. Start simple and keep it simple
Sometimes it's too easy to lose focus because of information overload. Our generation is being bombarded with more knowledge than any in history. And it's only going to get worse.
Real estate is basic investing. Stick to the fundamentals. Go to the old gurus such as Tyler Hicks and read the old books. Markets come and go, but the basics never change.
3. Do your investing one small step at a time
Don't try to compete with Donald Trump with your first property. Start small.
Get your first property going. Then move on to the second and the third. Don't worry about what the stars and experts in online forums are doing. They've been at it for a long time. Naturally they can do more. And you will too if you don't allow your investing to get too complicated.
4. Focus on one aspect of investing for six months
What are you really interested in? Foreclosures, Buy and Hold, Short Sales?
How is the market doing in your area of interest? Concentrate on one type of investment and soak up everything you can about it for six months. Not only will you become an expert but it will be almost second nature to you.
5. Design your investing around your strengths and weaknesses.
Okay, this is the challenging one.
We've been taught all our lives that winners do what they hate. It's a conditioning process. In order to get it done, we've got to make ourselves do the dog work.
That's okay for football or high school algebra, but real estate investing is different.
You need to like it. If there are parts of it you don't like, don't get bent out of shape about it. Sub those parts out. Out sourcing is one of the most valuable lessons you can teach yourself.
Don't get upset about landlording if it's not your thing. Out source that too. The most important point is to invest. That's where the money is.
6.Stop analyzing and buy something
There are investors who paralyze themselves to death with market analysis. Another way of putting it is they are fearful of doing it. Jump in. Get your feet wet. Sure, you might make some mistakes but if you read the right real estate materials and study the right courses, as well as networking, you can cut those mistakes down to miniscule small potatoes.
7. Set aside some properties for your lifetime profits.
This is your own personal bank. Whether you're a flipper, wholesaler, rehabber and you want to move those properties fast, this advice still applies to you.
It's amazing to me how some investors let perfectly great properties get out of their hands because they want to make a quick profit. Occasionally, keep a few of them. Hold on and watch them appreciate. They may truly pay for your old age.
Alice Stevens is a real estate investor with 19 years experience in property management. She writes regularly for the lively and quick-witted blog, Real Estate Windfall. http://www.realestatewindfall.com
Monday, May 25, 2009
The Secret - How It Applies To Real Estate Investing (By Charrissa Cawley)
Not getting results in your business? Are you just starting out as a real estate investor? Maybe you’ve been working at it for awhile and attended every seminar out there, read every book and you are still not getting the results that you were hoping for? Whatever your situation is with your business, there is one thing that you need to learn and understand in order to succeed; and that is “The Secret”.
The Secret is really quite simple, and this is not a new concept. In fact, it has been around since time began. The Secret is simply the law of attraction. The law of attraction is the law that determines exactly what you will get in your life because like attracts like. Your thoughts, the things that you desire, and the circumstances that you think about and feel, are the things, feelings and circumstances that you will attract in life. Like a magnet, you are attracting everything in your life with the thoughts in your own head. Your thoughts directly affect your actions and your actions affect your bottom line results.
The law of attraction is one of the most powerful laws in the universe. The law of attraction says that you attract everything that happens in your own life and the results that you have had up until now as well as the results that you will have in the future. Everything that is occurring in your life is due to this powerful law of attraction.
So, how can you apply The Secret and the law of attraction to your career and your real estate investing business? That’s very simple. Whatever you want out of your business, you can achieve once you have accepted the power that you have in your own mind.
You can apply the laws to your real estate investing business. Visualize your future living the lifestyle that you desire. Picture yourself living in that incredible dream house that you want, being able to afford that sports car that you have always wanted, and having the ability to send your children to the best private schools. Visualize your real estate business giving you everything that you want out of life. Whatever you want out of life, whatever wealth and prosperity looks like to you, picture it, visualize every last detail of it, and most importantly, believe it.
Once you have a picture in your head and are able to visualize yourself in the exact situation that you want, you must believe that you will achieve it and start to behave as if you are already living that life. The feelings that you put out about your future, will attract those feelings into existence because of the law of attraction.
Now that you know what you want to achieve with your real estate investing business, start small by focusing on your next property acquisition. Visualize the exact details and the type of property that you want to find. Focus on what it looks like, where it is located, what the neighborhood looks like. Visualize the monthly passive income this property will bring into your life and what this income will do for you and your family.
Believe it or not, because of the law of attraction, the universe will actually rearrange itself in order to bring your thoughts into existence, and that is the power of The Secret. What you call into existence, the thoughts that you put out, will attract more of the same to you. You may not know how it is going to happen, but you do not need to worry yourself about these details. You need to trust yourself and your instincts because the law of attraction is a powerful law and you will attract what you are projecting.
You might even surprise yourself when you find that perfect property, the one that you have been visualizing. But realize that this is not a coincidence; it is the law of attraction at work.
The Secret can be used when it comes to every aspect of your real estate investing business. Are you looking for a buyer for one of your properties? Visualize that buyer writing you a check for the amount you are hoping to sell the property for. Are you planning a renovation on a property? Visualize the details and how it will look when you are finished; imagine how it will feel when you rent the property to those perfect tenants.
Take this a step further and start applying The Secret to all aspects of your real estate investing business. Do you see yourself owning hundreds of properties, or only a few? Visualize what you want from your business, focus on it, and live your life as if your business has already reached the level that you expect of it. The law of attraction will deliver to you, exactly what you expect. Before you know it, after applying these principles to your life, you will be living the life you always dreamed of, all because of knowing The Secret.
Trust me…These principles have changed my life and if you look at this as if it’s hokey, it’s too good to be true, it’s ridiculous, you will continue to get what you have always gotten and never get from where you are now to where you wish to be. However, if you are open-minded and simply apply these laws in your own life, you will be blessed beyond your dreams. Try it and see for yourself!
Charrissa Cawley, founder of http://www.reiconferences.com, began her career in the pharmaceutical arena of corporate America in 1995 and switched to real estate when she discovered she could make more money, in less time, than she ever could working 10 hour days for someone else. “On my way to earning thousands of dollars on every transaction I did, I discovered the key to making money the smarter way-through Real Estate Investing!" Cawley offers accurate and proven real estate strategies to investors of all different levels. With seminars, mentoring programs, real estate sales, her own products and a book coming to stores soon, she specializes in educating her clients on creating wealth through "Unconventional Real Estate Investing". Within a year of beginning her real estate investing career, Cawley went from living paycheck to paycheck to being worth over 2 million dollars and hasn’t turned back since. To learn more, visit http://www.reiconferences.com
The Secret is really quite simple, and this is not a new concept. In fact, it has been around since time began. The Secret is simply the law of attraction. The law of attraction is the law that determines exactly what you will get in your life because like attracts like. Your thoughts, the things that you desire, and the circumstances that you think about and feel, are the things, feelings and circumstances that you will attract in life. Like a magnet, you are attracting everything in your life with the thoughts in your own head. Your thoughts directly affect your actions and your actions affect your bottom line results.
The law of attraction is one of the most powerful laws in the universe. The law of attraction says that you attract everything that happens in your own life and the results that you have had up until now as well as the results that you will have in the future. Everything that is occurring in your life is due to this powerful law of attraction.
So, how can you apply The Secret and the law of attraction to your career and your real estate investing business? That’s very simple. Whatever you want out of your business, you can achieve once you have accepted the power that you have in your own mind.
You can apply the laws to your real estate investing business. Visualize your future living the lifestyle that you desire. Picture yourself living in that incredible dream house that you want, being able to afford that sports car that you have always wanted, and having the ability to send your children to the best private schools. Visualize your real estate business giving you everything that you want out of life. Whatever you want out of life, whatever wealth and prosperity looks like to you, picture it, visualize every last detail of it, and most importantly, believe it.
Once you have a picture in your head and are able to visualize yourself in the exact situation that you want, you must believe that you will achieve it and start to behave as if you are already living that life. The feelings that you put out about your future, will attract those feelings into existence because of the law of attraction.
Now that you know what you want to achieve with your real estate investing business, start small by focusing on your next property acquisition. Visualize the exact details and the type of property that you want to find. Focus on what it looks like, where it is located, what the neighborhood looks like. Visualize the monthly passive income this property will bring into your life and what this income will do for you and your family.
Believe it or not, because of the law of attraction, the universe will actually rearrange itself in order to bring your thoughts into existence, and that is the power of The Secret. What you call into existence, the thoughts that you put out, will attract more of the same to you. You may not know how it is going to happen, but you do not need to worry yourself about these details. You need to trust yourself and your instincts because the law of attraction is a powerful law and you will attract what you are projecting.
You might even surprise yourself when you find that perfect property, the one that you have been visualizing. But realize that this is not a coincidence; it is the law of attraction at work.
The Secret can be used when it comes to every aspect of your real estate investing business. Are you looking for a buyer for one of your properties? Visualize that buyer writing you a check for the amount you are hoping to sell the property for. Are you planning a renovation on a property? Visualize the details and how it will look when you are finished; imagine how it will feel when you rent the property to those perfect tenants.
Take this a step further and start applying The Secret to all aspects of your real estate investing business. Do you see yourself owning hundreds of properties, or only a few? Visualize what you want from your business, focus on it, and live your life as if your business has already reached the level that you expect of it. The law of attraction will deliver to you, exactly what you expect. Before you know it, after applying these principles to your life, you will be living the life you always dreamed of, all because of knowing The Secret.
Trust me…These principles have changed my life and if you look at this as if it’s hokey, it’s too good to be true, it’s ridiculous, you will continue to get what you have always gotten and never get from where you are now to where you wish to be. However, if you are open-minded and simply apply these laws in your own life, you will be blessed beyond your dreams. Try it and see for yourself!
Charrissa Cawley, founder of http://www.reiconferences.com, began her career in the pharmaceutical arena of corporate America in 1995 and switched to real estate when she discovered she could make more money, in less time, than she ever could working 10 hour days for someone else. “On my way to earning thousands of dollars on every transaction I did, I discovered the key to making money the smarter way-through Real Estate Investing!" Cawley offers accurate and proven real estate strategies to investors of all different levels. With seminars, mentoring programs, real estate sales, her own products and a book coming to stores soon, she specializes in educating her clients on creating wealth through "Unconventional Real Estate Investing". Within a year of beginning her real estate investing career, Cawley went from living paycheck to paycheck to being worth over 2 million dollars and hasn’t turned back since. To learn more, visit http://www.reiconferences.com
An Overview Of Foreclosure Real Estate Investing (By John Krajewski )
Today's economy is having a tremendous impact on the housing market. As cost of living expenses rise disproportionately with salary, many people are finding that they are living in houses they cannot afford. While perhaps an unfortunate experience for the homeowner, the investment potential for such a situation is astounding. For this reason, foreclosure real estate investing is gaining popularity in America.
Foreclosure real estate investing can be extremely profitable, if done correctly. Often it involves finding properties in foreclosure, and offering to acquire the property through what is known as the short sale. Short sales allow banks and other lien holders who have assumed ownership of a defaulted property to recover some of their potential losses. Through short sales, the potential buyer negotiates with the lien holders to purchase a property, often at a price well below the value of the property. In nearly all cases, the amount of the short sale doesn't even cover the loan balance of the defaulted mortgage, a bonus for the foreclosure real estate investor.
Despite the loss of monies, there are some advantages to be had by the bank or lien-holding institution. A short sale guarantees a financial institution that at least some of the money from a defaulted mortgage loan will be recovered. A Loss Mitigation Department can negotiate the best deals to reduce the overall loss margin for the bank. Even with the loss of some funds, holding on to foreclosure properties can represent a huge liability to the financial institution. The recovery of any money is better than none at all, so the short sale is a way out, so to speak. The real estate investor wins.
Finding properties for foreclosure real estate investing is not difficult. Many listings can be located through online databases. Additionally, many financial institutions may advertise their foreclosed properties both in print and on the internet as a part of the institution's site. The driven real estate investor recognizes that potential sales are everywhere, and uses all of his or her resources to locate short sale candidates.
Foreclosure real estate investing is a great opportunity for investors to obtain homes cheaply, and sell them again for large margins of profit. As with any type of investment, there are some risks involved. However, in today's 'Buyer's Market,' the benefits more than outweigh those risks. For the right person, foreclosure real estate investing is an excellent and secure way to invest.
About the Author:
John Krajewski is a 33-year old real estate investor who has spent several years building a successful REI portfolio. After facing and conquering the common REI trials and tribulations that most new investors deal with, John has poured his wealth of valuable information into one amazing e-book: Secrets to Foreclosure Profits. This powerful e-book teaches real estate investors of any level how to profitably invest in foreclosure properties using the insider secrets and little-known tips discovered by John during his direct experience with foreclosure REI. Besides real estate investing, John also enjoys snowboarding, mountain biking, networking with other investors, and spending time with his family. Learn more about John's e-book Secrets to Foreclosure Profits at http://www.4closuresecrets.com
Foreclosure real estate investing can be extremely profitable, if done correctly. Often it involves finding properties in foreclosure, and offering to acquire the property through what is known as the short sale. Short sales allow banks and other lien holders who have assumed ownership of a defaulted property to recover some of their potential losses. Through short sales, the potential buyer negotiates with the lien holders to purchase a property, often at a price well below the value of the property. In nearly all cases, the amount of the short sale doesn't even cover the loan balance of the defaulted mortgage, a bonus for the foreclosure real estate investor.
Despite the loss of monies, there are some advantages to be had by the bank or lien-holding institution. A short sale guarantees a financial institution that at least some of the money from a defaulted mortgage loan will be recovered. A Loss Mitigation Department can negotiate the best deals to reduce the overall loss margin for the bank. Even with the loss of some funds, holding on to foreclosure properties can represent a huge liability to the financial institution. The recovery of any money is better than none at all, so the short sale is a way out, so to speak. The real estate investor wins.
Finding properties for foreclosure real estate investing is not difficult. Many listings can be located through online databases. Additionally, many financial institutions may advertise their foreclosed properties both in print and on the internet as a part of the institution's site. The driven real estate investor recognizes that potential sales are everywhere, and uses all of his or her resources to locate short sale candidates.
Foreclosure real estate investing is a great opportunity for investors to obtain homes cheaply, and sell them again for large margins of profit. As with any type of investment, there are some risks involved. However, in today's 'Buyer's Market,' the benefits more than outweigh those risks. For the right person, foreclosure real estate investing is an excellent and secure way to invest.
About the Author:
John Krajewski is a 33-year old real estate investor who has spent several years building a successful REI portfolio. After facing and conquering the common REI trials and tribulations that most new investors deal with, John has poured his wealth of valuable information into one amazing e-book: Secrets to Foreclosure Profits. This powerful e-book teaches real estate investors of any level how to profitably invest in foreclosure properties using the insider secrets and little-known tips discovered by John during his direct experience with foreclosure REI. Besides real estate investing, John also enjoys snowboarding, mountain biking, networking with other investors, and spending time with his family. Learn more about John's e-book Secrets to Foreclosure Profits at http://www.4closuresecrets.com
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